Standard Life adjusts five fund mandates

Standard Life Mutual Funds has received securityholder approval to change the investment objectives of five of its funds. The affected funds are its Global Monthly Income Fund, Canadian Dividend Growth Fund, Canadian Dividend Growth Class, Dividend Income Fund and Canadian Small Cap Fund.

The investment strategies will be amended to reflect the new objectives and the name of Standard Life Global Monthly Income Fund will change to Standard Life Tactical Income Fund. All changes are expected to be effective on or about June 15, 2011.

The changes are as follows:

Funds	Changes
Standard Life Global Monthly Income Fund	The fund’s investment objective will be reworded to focus on long-term capital growth as well as generating income. The investment strategies will change to reflect the new investment objective.
Standard Life Canadian Dividend Growth Fund	The fund’s investment objective will be clarified to allow for more flexibility with regard to investing in non-Canadian securities. The investment strategies will change to reflect the new investment objective.
Standard Life Canadian Dividend Growth Class	(This fund currently invests up to 100% of its assets in Standard Life Canadian Dividend Growth Fund) The fund’s investment objective will be clarified to allow for more flexibility with regard to investing in non-Canadian securities. The investment strategies will change to reflect the new investment objective.
Standard Life Dividend Income Fund	The fund’s investment objective will be broadened to allow for more flexibility with regard to investing in fixed-income securities. The investment strategies will change to reflect the new investment objective.
Standard Life Canadian Small Cap Fund	The fund’s investment objective will change to remove the fixed market capitalization limits in order to provide the portfolio manager with more flexibility when investing in small capitalization companies. The investment strategies will change to reflect the new investment objective.

The company also announced plans to change the portfolio manager of Standard Life U.S. Equity Fund and Standard Life U.S. Equity Class to Beutel Goodman & Company, Ltd. and to change the name of these funds to Standard Life U.S. Equity Value Fund and Standard Life U.S. Equity Value Class, effective on or about July 4, 2011.

Standard Life Mutual Funds Ltd. also changes the name of the Standard Life Corporate High Yield Bond Fund and Standard Life Corporate High Yield Bond Class to Standard Life Corporate Bond Fund and Standard Life Corporate Bond Class, respectively.

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